Deere to Open Leasing Company in Russia

Deere & Co. said its Johnston, IA-based John Deere Financial Services will establish a leasing company in Russia to bolster retail financing for its farm implement and construction equipment customers in the country.

Deere made the announcement in Moscow, where it also said it would double the size of the planned expansion of its Domodedovo factory in Moscow. The announcement was part of a visit by a U.S. Chamber of Commerce delegation that included Deere Chairman Samuel Allen and U.S. Vice President Joe Biden.